Braemar Hotels moves to end Ashford advisory pact, shift to self-management
BHR•Braemar plans to terminate Ashford advisory agreement
Braemar Hotels & Resorts plans to terminate its advisory agreement with Ashford Inc., shifting to a self-managed REIT structure.
The move follows a June 12, 2026 announcement aimed at simplifying governance and increasing management accountability to shareholders.
Blackwells Capital backed the transition, citing a renegotiated company sale fee that cut the amount owed to Ashford by $94.3 million.
Braemar also targets more than $25 million in annual cost savings under self-management, with asset sales intended to fund the separation.
